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Why is the Life360 (ASX:360) share price climbing today?

What did Life360 update the ASX with?
The post Why is the Life360 (ASX:360) share price climbing today? appeared first on The Motley Fool Australia. –

The Life360 Inc (ASX: 360) share price is edging higher during mid-afternoon trade. This comes after the mobile app maker provided investors with its retail entitlement offer information booklet today.

At the time of writing, Life360 shares are fetching for $12.07 apiece, up 2.29%.

Life360 begins retail entitlement offer

Investors are buying up the Life360 share price following the company’s capital raising efforts.

Last week, the company announced it successfully completed the institutional component of its fully-underwritten $280 million placement. This saw approximately $248.9 million raised from both institutional and sophisticated investors.

Life360 revealed the details of its retail component today for eligible investors.

The retail entitlement offer will see 1 new CDI share for every 15.64 Life360 CDI share owned. Each new CDI represents one third of a share of common stock in the company.

Listed at an offer price of $12 apiece, Life360 is hoping to raise gross proceeds of $31.1 million. This follows the successfully completed Institutional Entitlement Offer which received $88.7 million. Together, Costa is aiming to raise $119.8 million from both offers.

Approximately 9.98 million CDI’s will be created in the retail entitlement offer.

The closing date for the retail offer is 13 December 2021. The record date has already surpassed (25 November 2021) if you were hoping to get in on the action.

Life360 is seeking to build up its balance sheet to fund the acquisition of Tile, Inc for up to US$205 million. The global leader in finding things along with Life360’s market, will boost membership numbers for digitally native customers.

About the Life360 share price

It’s been an outstanding 12 months for the Life360 share price, accelerating by more than 200% for the period. When looking at year-to-date, its shares are up close to 220%.

Life360 presides a market capitalisation of about $1.88 billion, with approximately 156.03 million shares on its books.

The post Why is the Life360 (ASX:360) share price climbing today? appeared first on The Motley Fool Australia.

Should you invest $1,000 in Life360 right now?

Before you consider Life360, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Life360 wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Morgan Stanley rates these 3 ASX growth shares as buys

Why Creso Pharma, Hansen, Life360, and Serko shares are falling

Why the Life360 (ASX:360) share price is sinking 9% today

Top brokers name 3 ASX shares to buy today

Life360 (ASX:360) share price halted amid $280 million acquisition

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Life360, Inc. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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